Changes to HMS Housing loans

You can make various changes to the terms of your loan, such as shortening the loan period or taking over a loan from HMS. The price of each change in terms is 3.250 ISK.

All changes must be registered (þinglýsing) at the District Commissioner’s office (Sýslumaður) and in some cases the changes may require approval from other credit institutions and even a credit assessment.

You can apply for the following changes:

Loan transfer

If you are buying a new property, you can apply for a loan transfer and transfer the loan over to the new property. This way, you keep the same terms with no additional borrowing costs. See more on Loan transfer.

Loan take-over

If you are buying an apartment that has an ongoing loan from HMS, you have the option to take over the loan. In the event of a divorce or a breakup, you can take over the former spouse’s part in a loan. See more on Loan take-over.

Permit for mortgage

A permit for mortgage is a permission from HMS to move a loan from another credit institution ahead of our loan in the mortgage order. See more on Permit for mortgage.

Change in loan period

With a shorter loan period your monthly instalments will increase and the asset formation will be faster. See more on Change in loan period.

Change of payments dates

You can change the payment date to the 1st of each month. See more on Change of payments dates.